Finance Minister Underlines Significance Of Well-regulated Digital Asset Framework

Aurangzeb - The News Today - TNT
Islamabad:  Rising tobacco and nicotine use among Pakistan’s youth, especially around educational institutions, emerged as the central concern at a national review session on tobacco control held by the Aurat Foundation in Islamabad. Participants from Parliament, government departments, health organizations, and civil society warned that easy availability of cigarettes, vapes, nicotine pouches, and flavored tobacco near schools is creating a growing public health threat. The discussion also pointed to a noticeable increase in tobacco use among women, indicating a shifting trend. The session called for stronger legislation, faster policy action, and strict enforcement to counter the rapid spread of emerging nicotine products. Speakers emphasized that existing laws remain poorly implemented due to procedural delays, weak monitoring, and limited coordination between federal and provincial bodies. The need for clear parental awareness, community engagement, and better recognition of new nicotine products was highlighted as an essential part of early prevention. Officials noted that families and schools often remain unaware of modern products marketed to young people. Technical briefings identified major enforcement gaps and policy loopholes that allow the tobacco industry to expand its reach. Participants noted that companies are increasingly using social media trends, entertainment content, and youth-focused marketing to promote vaping in urban areas. Government representatives reaffirmed ongoing federal efforts to implement the Prohibition of Smoking and Protection of Non-Smokers Health Ordinance 2002 and to tighten regulations where required. Provincial representatives also announced plans to introduce new resolutions to strengthen tobacco control. Education sector officials raised alarms over the rise of nicotine products around private institutions and called for tougher regulatory checks. Regulatory authorities stressed the need for a broader social movement to counter tobacco use nationwide. Closing the event, the Aurat Foundation reiterated its commitment to evidence-based advocacy, cross-sector collaboration, and long-term public awareness initiatives aimed at building a healthier, tobacco-free society.

ISLAMABAD: Senator Muhammad Aurangzeb, Finance Minister has emphasized the importance of a well-regulated digital asset framework, aligning Pakistan with international best practices and complying with Financial Action Task Force (FATF) guidelines.

While chairing a high-level meeting on digital assets, the minister highlighted the government’s commitment to exploring digital assets and integrating block-chain technology as part of its broader strategy to modernize the financial sector, said a hand-out issued by Finance Ministry.

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The meeting was attended by foreign delegates, including President Trump’s Advisors for Digital Assets, Minister of State for IT & Telecom, Ms. Shaza Fatima Khawaja, Governor State Bank, Secretary Finance and Secretary IT & Telecom attended the meeting.

Participants discussed the global evolution of crypto currency, its increasing adoption, and the regulatory frameworks being implemented internationally, in line with US government policies. The deliberations focused on financial security, risk mitigation, and the potential impact of digital assets on Pakistan’s economy.

Discussions also included the tokenization of key infrastructure and state-owned enterprises (SOEs) assets, allowing for increased liquidity, broader investor participation, and greater efficiency in capital markets.

It was noted that various stakeholders, including foreign and domestic investors, have already developed product-ready digital asset solutions that could be explored within a regulatory sandbox.

Pakistan currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees.

The minister reaffirmed his commitment to regulating and encouraging this industry by adopting appropriate frameworks, laws, and incentives to ensure transparency and facilitate digital business growth.

He directed relevant stakeholders to formulate a comprehensive framework that ensures security, transparency, regulatory compliance, and economic viability while safeguarding against financial crimes and illicit activities.

He also stressed the need for a balanced approach – one that encourages innovation and investment in digital assets while maintaining strict regulatory oversight in line with international standards.

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